“Global Metallic Pigments Market to reach a market value of 3.29 Billion by 2031 growing at a CAGR of 6.4%”
The Global Metallic Pigments Market size is expected to reach $3.29 billion by 2031, rising at a market growth of 6.4% CAGR during the forecast period. In the year 2023, the market attained a volume of 537,458.6 tonnes, experiencing a growth of 26.0% (2020-2023).
Using copper pigments in luxury goods and artistic materials has contributed to their market share. This segment thrives on the unique aesthetic qualities of copper, which are highly sought after in high-end markets. Innovations in pigment technology that improve the stability and brilliance of copper pigments are expected to drive further growth. Therefore, in 2023, the copper segment held 1/5th revenue share in the market. In terms of volume, 70,662.9 tonnes of copper pigments are expected to be utilized by the year 2031. Copper pigments are appreciated for their rich, lustrous color and find applications in decorative coatings, plastics, and cosmetics. Additionally, the trend toward eco-friendly and natural-looking finishes boosts the demand for copper pigments in various applications.
The rise of online shopping and e-commerce platforms has made it easier for consumers to access various products, including those with metallic pigments. Showcasing visually compelling products online is crucial in attracting a global customer base. With growing disposable incomes and the increasing availability of international products, consumer industries increasingly incorporate metallic pigments to appeal to this tech-savvy and design-conscious industry. Thus, the expansion of global consumer industries and rising disposable incomes are driving the market's growth. Additionally, the chemical industry’s role in developing more cost-effective, efficient manufacturing processes for metallic pigments has made them more accessible to a broader range of industries. As these pigments become more affordable and sustainable, their use is expected to grow in response to the rising demand from various consumer and industrial sectors. In conclusion, the rise of the chemical industry worldwide is driving the market's growth.
However, the complexity of the production process and the need for specialized equipment to create high-quality metallic pigments further contribute to the overall expense. Smaller manufacturers or businesses in developing countries may struggle to invest in the necessary infrastructure, making it challenging to compete in the market. These high production costs and expensive raw materials are significant barriers to the market growth of metallic pigments, particularly in economically constrained regions. Thus, high production costs and expensive raw materials are hindering market growth.
Based on product, the market is divided into aluminum, zinc, copper, stainless steel, and others. The zinc segment attained 26% revenue share in the market in 2023. In terms of volume, 262,081.7 tonnes of zinc pigments are expected to be utilized by the year 2031. Due to their excellent anti-corrosive properties, zinc pigments are primarily used in protective coatings and paints, especially for industrial and marine applications. The demand for zinc pigments is driven by their necessity in construction and infrastructure projects. As these projects expand globally, the need for durable, long-lasting coatings increases, making zinc pigments an essential component.
On the basis of application, the market is segmented into paints & coatings, plastics, cosmetics, printing inks, and others. The paints & coatings segment recorded 45% revenue share in the market in 2023. In terms of volume, 371,730.6 tonnes of pigments are expected to be utilized in paints & coatings by the year 2031. The extensive use of metallic pigments in automotive, industrial, and architectural coatings drives this segment’s dominance. Metallic pigments in paints and coatings provide a shimmering effect, improved durability, and enhanced resistance to weathering and corrosion. The demand in this segment is bolstered by the ongoing growth in the construction and automotive industries, where aesthetic appeal and protective qualities are paramount.
Free Valuable Insights: Global Metallic Pigments Market size to reach USD 3.29 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region generated 43% revenue share in the market in 2023. This region’s dominance can be attributed to the rapid industrialization and urbanization in countries such as China, India, and Japan. These countries' burgeoning automotive, construction, and electronics industries have significantly increased the demand for metallic pigments, widely used in paints & coatings, plastics, and printing inks. Moreover, the region’s robust manufacturing base and numerous end-user industries drive the market growth. The rising disposable income and growing consumer preference for aesthetically appealing products also contribute to Asia's high demand for metallic pigments.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 2.03 Billion |
| Market size forecast in 2031 | USD 3.29 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 6.4% from 2024 to 2031 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 275 |
| Tables | 590 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Application, Region |
| Country scope |
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| Companies Included | BASF SE, Umicore NV-SA, Saudi Basic Industries Corporation (SABIC), Asahi Kasei Corporation, Shepherd Chemical Company, Vibrantz Technologies Inc., Toyal America Inc., CARLFORS BRUK, Sun Chemical, SCHLENK SE |
By Product (Volume, Tonnes, USD Billion, 2020-2031)
By Application (Volume, Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Tonnes, USD Billion, 2020-2031)
This Market size is expected to reach $3.29 billion by 2031.
Increasing Demand for Aesthetic and Visual Appeal are driving the Market in coming years, however, High Production Costs and Expensive Raw Materials restraints the growth of the Market.
BASF SE, Umicore NV-SA, Saudi Basic Industries Corporation (SABIC), Asahi Kasei Corporation, Shepherd Chemical Company, Vibrantz Technologies Inc., Toyal America Inc., CARLFORS BRUK, Sun Chemical, SCHLENK SE
In the year 2023, the market attained a volume of 537,458.6 tonnes, experiencing a growth of 26.0% (2020-2023).
The Aluminum segment is leading the Market by Product in 2023; thereby, achieving a market value of $1.19 billion by 2031.
The Asia Pacific region dominated the Market by Region in 2023; thereby, achieving a market value of $1.44 billion by 2031.
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